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Consumption with Liquidity Constraints and Habit Formation

  • Aylin Seckin

In an intertemporal consumption-saving model with uncertainty, liquidity constraints and habit formation, we have shown that habits can be a cushion against liquidity constraints by pushing even the impatient individual towards a choice of lower level of consumption. Dans un modèle intertemporel de consommation et d'épargne avec incertitude, contraintes de liquidité et formation d'habitudes, nous avons démontré que les habitudes peuvent être un coussin contre les contraintes de liquidités en poussant même un individu impatient vers un choix d'un montant de consommation moins élevé.

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File URL: http://www.cirano.qc.ca/files/publications/2000s-41.pdf
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Paper provided by CIRANO in its series CIRANO Working Papers with number 2000s-41.

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Length: 15 pages
Date of creation: 01 Oct 2000
Date of revision:
Handle: RePEc:cir:cirwor:2000s-41
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  1. Marcel Boyer, 1999. "Les Expos, l'OSM, les universités, les hôpitaux : Le coût d'un déficit de 400 000 emplois au Québec = Expos, Montreal Symphony Orchestra, Universities, Hospitals: The Cost of a 400,000-Job Shortfall i," CIRANO Papers 99c-01, CIRANO.
  2. Benoit A. Aubert & Michel Patry & Suzanne Rivard & Heather Smith, 2000. "IT Outsourcing Risk Management at British Petroleum," CIRANO Working Papers 2000s-31, CIRANO.
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